The smartest financial decision any investor can make right now is probably investing in the cannabis market. However, you should only be investing in one of the best stocks to realize the best side of the ever-growing industry.
MedMen Enterprises Inc (OTCMKTS: MMNFF) is one that’s showing signs of not stopping, and despite some negative vibes (like most stocks have), the company still boasts strong fundamentals.
MedMen Enterprises Inc. and its subsidiaries is a cannabis company that operates in the US. It cultivates and produces alongside distributing recreational and medical cannabis with the company being strong in California.
Med Men Enterprises Stock Price Analysis
Over the past few years, the company has kept on striving fine to achieve significant milestones to pursue growth opportunities in the United States cannabis market. However, even with the efforts, it’s putting in, the stock has been edging even lower.
The cannabis market is trending higher, and it won’t surprise anyone if the stock’s price gets on the upward trajectory, especially now that the company looks to be doing everything right.
The stock experienced an all-time low to $2.35, but a bounce back to over $2.70 level is needed to turn it bullish as well as aim a breakout at above $3.60 resistance level. Currently, the stocks’ price is at $2.39 and might head rapidly towards high numbers anytime sooner than many out there might be expecting.
MedMen is one of the best with the largest retail networks as it opened several retail stores in the most significant markets like New York, Las Vegas, and Los Angeles.
How has MedMen performed so far?
The company has thus far had its ups and downs, but what encourages most investors is the fact that it has not lost its course. In terms of year-to-date, the stock has gone down almost by 1.82% whereas that of the S&P gaining 15.96%.
Moreover, the preliminary results for the stock’s fiscal 2019 Q3 were very much encouraging. Across its operations in New York, Nevada, Illinois, Arizona, and California, the total revenue was $36.6 million which was a 22% quarter-over-quarter increase from the fiscal 2019 Q2.
MedMen Recent Development
The company continues to expand its retail network in the cannabis industry even though the stock hasn’t performed to the expectations. The 11th store that the company opened in California (not too long ago) enables the stock to target a broader market.
The store aids the company to push for the market share in the grand $11 billion cannabis market in California.
Subsequently, the company received a boost with a $250 million credit line financing deal they closed with Gotham Green Partners. The agreement is meant to fund the operationalizing the existing retail licenses.
Also, last month, the company acquired licensed marijuana retailer Sugarleaf trading that it a third retail store in the Northern California high-demand market.
Furthermore, the $682 million deal that the company acquires with the private company PharmaCann will help it boost its operational plans. The deal was perhaps the largest in the US marijuana industry which will help MedMen become the largest publicly-traded cannabis company it the US.
Also, there’s room for expansion as several states look to legalize recreational weed. Meanwhile, the partnership within Canada with Cronos Group, forged through a reverse takeover would allow the stock to open the company’s branded locations to the north.
Last year, the company acquired a nursery as well as a retail license which were to aid in building over 35 stores in Florida where pot is growing at a fast pace.
What is Next for MedMen?
All of these moves are strategic, and they set a momentum for the company’s future growth despite all the ups and downs that it has experienced. With its strong branding and well positioning, MedMen is poised for an exciting future.
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Disclosure: We have no position in MMNFF and have not been compensated for this article.
What Do Investors See In Medical Marijuana Stock (OTCMKTS:MJNA)?
Medical Marijuana Stock (OTCMKTS:MJNA) has emerged as one of many investor’s favorite pot stocks in the legal cannabis universe in 2020. The stock is already up about 10% in 2020, demonstrating how investors have warmed up to the stock early on in the New Year.
Following a disastrous 2019, cannabis investors lost money but have also learned that their best bets are stocks with strong fundamentals. They are looking for companies that have positioned themselves well in the cannabis industry and have what it takes to go for the opportunities. That is why MJNA stock is catching a lot of investor attention in 2020 because of how it has positioned itself in the cannabis market.
Robust revenue growth and strong financial position have also helped put MJNA on the radar of investors hunting for quality cannabis stocks. Revenue at MJNA more than doubled from $26.5 million in 2017 to $60 million in 2018. MJNA is also not in financial distress as may be the case with other cannabis companies out there. The company finished the third quarter, the most recent reported period, with $5.5 million in cash reserves.
Moreover, MJNA has recently taken steps to expand into new international markets and invest in companies that are leaders in their segments. These prudent actions are helping lift Medical Marijuana stock as more investors learn about them.
About Medical Marijuana stock
Is Tilray Inc (NASDAQ:TLRY) A Buy Or Sell?
For Tilray Inc (NASDAQ:TLRY) and the rest of cannabis stocks, 2019 was no doubt a bad year. But 2020 is shaping up to be a promising year for the stock. To start with, Tilray stock has already gained 8.35% year-to-date. If that says anything, it shows following the broad selloff in Tilray stock last year, we’ve got to a point where sellers are giving way to buyers in the stock.
There are several catalysts that should continue driving NASDAQ:TLRY as you’re about to see. First, below is a brief profile of the company we’re discussing.
Tilray is a Canada-headquartered global cannabis company. It is engaged in activities of cannabis cultivation and processing as well as marketing and distribution of cannabis products. Tilray already has several cannabis products brands to its portfolio. It operates across five continents through subsidiaries in Canada, Australia, Germany, and Portugal.
Following the broad collapse of cannabis stocks in 2019, investors are looking for cannabis stocks that can make a positive impact on their portfolios in 2020. Tilray stands out as an attractive cannabis stock pick in 2020. Here are some of the exciting things about the company.
Tilray CEO sees a bright future for the cannabis industry
On January 25, Tilray CEO Brendan Kennedy spoke on Bloomberg. In that interview, Kennedy framed a rosy outlook for the…
Is Cronos Stock (TSE:CRON)(NASDAQ:CRON) A Buy?
Cronos Stock (TSE:CRON)(NASDAQ:CRON) stock fell 9.22% on January 24, marking its steepest decline so far in 2020. The stock plunge followed an important disclosure that you would only expect from a company that is trying to be straight and transparent with investors. Here’s what happened.
On January 22, after market close, Cronos made a regulatory filing detailing changes in its executive team. In that SEC filing, Cronos revealed that David Hsu and William Hilson have stepped down as its chief operating officer and chief commercial officer, respectively. Unfortunately, some investors read bad news in the executive exits and sold their shares in Cronos.
But a careful reading of the filing doesn’t seem to raise any red flags. Therefore, the big stock plunged points to investors panicking to the degree of responding to a mosquito bite with a missile.
There is no doubt that 2019 was a difficult year for cannabis stocks and Cronos Stock is no exception. But before the uncalled for reaction to Cronos’s regulatory filing, we had been at a point where sellers were starting to give way to buyers in Cronos stock. The stock has gained about 8.0% in the past one month. It had gained more than 13% year-to-date before the January 24 big selloff.
About Cronos Stock
Cronos Stock is a Canada-based global cannabis company. Cronos operates through subsidiaries and…